Born: Midnight August 10-11, 1874 in West Branch, Iowa
Death: October 20, 1964 in New York City
Political Party: Republican
Term: March 4, 1929-March 3, 1933
Vice President: Charles Curtis (1929-1933)
Based on Herbert Hoover's accomplishments during his presidency, he deservedly earns a D. Succeeding Calvin Coolidge, Hoover became the thirty-first president of the United States. Among the decisions and events of Hoover and his administration during his presidency resides the legislation of significant acts including the Agricultural Marketing Act of 1929, the Hawley-Smoot Tariff of 1930, the London Naval Treaty of 1930, the Norris-LaGuardia Act of 1932, the ratification of a constitutional amendment, enforcements of Prohibition, the Bonus March of 1932, and perhaps most significantly the Stock Market Crash of 1929 and the ensuing Great Depression. Hoover resided over a terrible economic depression doing little in regards to aiding American citizens and viewed the Depression as a temporary crisis to endure rather than taking appropriate action to alleviate the massive suffering of the people.
The goals of Hoover and his administration as outlined in Hoover's Inaugural Address included justice, ordered liberty, equality of opportunity, individual initiative, freedom of opinion, integrity in government, peace, growth of religious spirit, and strengthening of the home. However, just eight months into his presidency, the crisis of the Great Depression overcame the country. Therefore, his efforts became focused towards the remediation of the economic state of the United States.
The relationship between Herbert Hoover and Congress was in Hoover's favor between 1929-1931 as the majority party was Republican, however between 1931-1933 the majority party differed in the House. Despite the difference in Congress in the latter part of Hoover's term, he was moderately supported along with the ideas and legislation he proposed. During his term, several pieces of legislature were passed including the Agricultural Marketing Act in 1929, the Hawley-Smoot Tariff in 1930, the London Naval Treaty in 1930, and the Norris-LaGuardia Act in 1932. The Agricultural Marketing Act signed into legislature created a Federal Farm Board to encourage the formation of farm cooperatives and to control farm surpluses. However, the board held limited authority and was inadequate to handle the severe overabundance in agricultural products. Another significant item signed into law was the Hawley-Smoot Tariff, replacing the Emergency Tariff Act of 1921 as well as the Fordney-McCumber Act of 1922. The bill raised the general level of duties to forty-two percent, the highest in U.S. history. It was dubbed a protectionist measure that Hoover hoped would aid hard-pressed farmers by protecting them from foreign competition. Consequently, a global tariff war occurred, diminishing all foreign trade. The tariff was abandoned and replaced by the reciprocal trade agreements from 1934. Additionally, the London Naval Treaty was passed by legislature, allowing Japan to increase its fleet similar to that of the United States and Great Britain. The Norris-LaGuardia Act passed by Congress restricted the use of labor injunction to strikes which endanger public safety and prohibited the yellow dog contract refusing workers the right to unionize.
The action of Hoover and his administration with the most positive outcome was perhaps his appointments of three Justices to the Supreme Court of the United States. They go on to play a vital role in the playing out of several aspects of Franklin Roosevelt's New Deal programs. Charles Evans Hughes of New York served as Chief Justice from 1930-1941. He wrote the majority opinions justifying such New Deal programs as abandonment of the gold standard, the Tennessee Valley Authority, and the National Labor Relations Act. Hughes also openly opposed Roosevelt's court-packing plan. Owen J. Roberts of Pennsylvania, served as an associate justice from 1930-1945 and like Hughes, he opposed much of the early New Deal. Benjamin N. Cardozo, of New York, served as an associate justice from 1932-1938, and held views polar opposite of the other two justices. He viewed the Constitution as "a living document subject to changing interpretations as society evolves." He also voted to support much of the New Deal Legislation with the exception of the National Industrial Recovery Act. Therefore, Hoover's appointments were balanced and wise decisions that were necessary to the upcoming administration.
The action of Hoover and his administration with the most negative outcome was the legislation of the Hawley-Smoot Tariff. Although it was proposed as a measure to increase the protection given to farmers against foreign agricultural competition, vast expansion in agricultural production outside of Europe led to overproduction in the 1920's. As a result, the prices of agricultural goods dropped. The bill initially meant to protect the farmers morphed into what became a means to raise tariffs all around the globe. Congress agreed to tariff levels that surpassed the already high existing rates established by the Fordney-McCumber Act, raising them to historically high levels. Ultimately, it led to a decline in foreign trade as demonstrated by the declination of world trade by 66 percent 1929 and 1934.
The decision of Hoover and his administration which influenced future presidential administrations as well as the lives of people in future generations was in fact his lack of action and failed attempts to improve the lives of American citizens as well as the economy during the Great Depression.
Building starts and consumer spending had been slipping and inventories had been piling up. Still though, few were prepared for the deep despair that awaited them. After a failed attempt by a group of investment bankers to flamboyantly buy large blocks of stock when stock prices continued to slide in heavy trading, the stock market came to a crash on October 29, 1929. Stock losses for the day totaled in the billions of dollars in the midst of then-record volume of more than 16 million shares.The causes of the Great Depression that followed include a chronic surplus in agricultural products that as a result lowered prices, a lack of credit restraints, high tariffs that discouraged global trade, acceleration of corporate profits at the expense of higher wages stunted purchasing power.By the spring of 1930 four million Americans were unemployed and a total of 25 percent of banks failed between 1929-1932. Farmers were among the hardest hit as crop prices continued to fall. Additionally, dust storms in the Midwest and Southwest contributed to the problem as they blew away the topsoil of entire farms, forcing countless Americans to abandon their fields. President Hoover and his administration at first attempt failed to recognize the magnitude of the Depression. Hoover continually portrayed a false faith that the worst was over and limited government assistance to business with the belief that such aid would ultimately reach the people. He refused to engage in a massive program of direct federal aid to the unemployed. Alternatively, he established in 1932 the Reconstruction Finance Corporation designed to loan money to ailing banks, insurance companies, businesses, and state governments. However, as the Depression deepened, Hoover was the target of rude jeers as the homeless resorted to makeshift “homes” of cardboard and scrap metal. Their communities came to be known as “Hoovervilles.”
In conclusion, the country was most definitely in remarkably worse condition at the end of his term of office than at the beginning. His attitude that confidence was the key for the country to get back on track during the Depression was a campaign that miserably failed. Although he waged campaigns to keep wages and confidence up, the economy continued to decline. Hoover did not cause the Depression, however his administration failed to engineer a solid plan for recovery to help the American people and the worsening economy.
Bibliography:
DeGregorio, William A., and Sandra Lee. Stuart. The Complete Book of U.S. Presidents. Fort Lee, NJ: Barricade, 2009. Print.
Herbert Clark Hoover
Born: Midnight August 10-11, 1874 in West Branch, Iowa
Death: October 20, 1964 in New York City
Political Party: Republican
Term: March 4, 1929-March 3, 1933
Vice President: Charles Curtis (1929-1933)
Based on Herbert Hoover's accomplishments during his presidency, he deservedly earns a D. Succeeding Calvin Coolidge, Hoover became the thirty-first president of the United States. Among the decisions and events of Hoover and his administration during his presidency resides the legislation of significant acts including the Agricultural Marketing Act of 1929, the Hawley-Smoot Tariff of 1930, the London Naval Treaty of 1930, the Norris-LaGuardia Act of 1932, the ratification of a constitutional amendment, enforcements of Prohibition, the Bonus March of 1932, and perhaps most significantly the Stock Market Crash of 1929 and the ensuing Great Depression. Hoover resided over a terrible economic depression doing little in regards to aiding American citizens and viewed the Depression as a temporary crisis to endure rather than taking appropriate action to alleviate the massive suffering of the people.
The goals of Hoover and his administration as outlined in Hoover's Inaugural Address included justice, ordered liberty, equality of opportunity, individual initiative, freedom of opinion, integrity in government, peace, growth of religious spirit, and strengthening of the home. However, just eight months into his presidency, the crisis of the Great Depression overcame the country. Therefore, his efforts became focused towards the remediation of the economic state of the United States.
The relationship between Herbert Hoover and Congress was in Hoover's favor between 1929-1931 as the majority party was Republican, however between 1931-1933 the majority party differed in the House. Despite the difference in Congress in the latter part of Hoover's term, he was moderately supported along with the ideas and legislation he proposed. During his term, several pieces of legislature were passed including the Agricultural Marketing Act in 1929, the Hawley-Smoot Tariff in 1930, the London Naval Treaty in 1930, and the Norris-LaGuardia Act in 1932. The Agricultural Marketing Act signed into legislature created a Federal Farm Board to encourage the formation of farm cooperatives and to control farm surpluses. However, the board held limited authority and was inadequate to handle the severe overabundance in agricultural products. Another significant item signed into law was the Hawley-Smoot Tariff, replacing the Emergency Tariff Act of 1921 as well as the Fordney-McCumber Act of 1922. The bill raised the general level of duties to forty-two percent, the highest in U.S. history. It was dubbed a protectionist measure that Hoover hoped would aid hard-pressed farmers by protecting them from foreign competition. Consequently, a global tariff war occurred, diminishing all foreign trade. The tariff was abandoned and replaced by the reciprocal trade agreements from 1934. Additionally, the London Naval Treaty was passed by legislature, allowing Japan to increase its fleet similar to that of the United States and Great Britain. The Norris-LaGuardia Act passed by Congress restricted the use of labor injunction to strikes which endanger public safety and prohibited the yellow dog contract refusing workers the right to unionize.
The action of Hoover and his administration with the most positive outcome was perhaps his appointments of three Justices to the Supreme Court of the United States. They go on to play a vital role in the playing out of several aspects of Franklin Roosevelt's New Deal programs. Charles Evans Hughes of New York served as Chief Justice from 1930-1941. He wrote the majority opinions justifying such New Deal programs as abandonment of the gold standard, the Tennessee Valley Authority, and the National Labor Relations Act. Hughes also openly opposed Roosevelt's court-packing plan. Owen J. Roberts of Pennsylvania, served as an associate justice from 1930-1945 and like Hughes, he opposed much of the early New Deal. Benjamin N. Cardozo, of New York, served as an associate justice from 1932-1938, and held views polar opposite of the other two justices. He viewed the Constitution as "a living document subject to changing interpretations as society evolves." He also voted to support much of the New Deal Legislation with the exception of the National Industrial Recovery Act. Therefore, Hoover's appointments were balanced and wise decisions that were necessary to the upcoming administration.
The action of Hoover and his administration with the most negative outcome was the legislation of the Hawley-Smoot Tariff. Although it was proposed as a measure to increase the protection given to farmers against foreign agricultural competition, vast expansion in agricultural production outside of Europe led to overproduction in the 1920's. As a result, the prices of agricultural goods dropped. The bill initially meant to protect the farmers morphed into what became a means to raise tariffs all around the globe. Congress agreed to tariff levels that surpassed the already high existing rates established by the Fordney-McCumber Act, raising them to historically high levels. Ultimately, it led to a decline in foreign trade as demonstrated by the declination of world trade by 66 percent 1929 and 1934.
The decision of Hoover and his administration which influenced future presidential administrations as well as the lives of people in future generations was in fact his lack of action and failed attempts to improve the lives of American citizens as well as the economy during the Great Depression.
Building starts and consumer spending had been slipping and inventories had been piling up. Still though, few were prepared for the deep despair that awaited them. After a failed attempt by a group of investment bankers to flamboyantly buy large blocks of stock when stock prices continued to slide in heavy trading, the stock market came to a crash on October 29, 1929. Stock losses for the day totaled in the billions of dollars in the midst of then-record volume of more than 16 million shares.The causes of the Great Depression that followed include a chronic surplus in agricultural products that as a result lowered prices, a lack of credit restraints, high tariffs that discouraged global trade, acceleration of corporate profits at the expense of higher wages stunted purchasing power.By the spring of 1930 four million Americans were unemployed and a total of 25 percent of banks failed between 1929-1932. Farmers were among the hardest hit as crop prices continued to fall. Additionally, dust storms in the Midwest and Southwest contributed to the problem as they blew away the topsoil of entire farms, forcing countless Americans to abandon their fields. President Hoover and his administration at first attempt failed to recognize the magnitude of the Depression. Hoover continually portrayed a false faith that the worst was over and limited government assistance to business with the belief that such aid would ultimately reach the people. He refused to engage in a massive program of direct federal aid to the unemployed. Alternatively, he established in 1932 the Reconstruction Finance Corporation designed to loan money to ailing banks, insurance companies, businesses, and state governments. However, as the Depression deepened, Hoover was the target of rude jeers as the homeless resorted to makeshift “homes” of cardboard and scrap metal. Their communities came to be known as “Hoovervilles.”
In conclusion, the country was most definitely in remarkably worse condition at the end of his term of office than at the beginning. His attitude that confidence was the key for the country to get back on track during the Depression was a campaign that miserably failed. Although he waged campaigns to keep wages and confidence up, the economy continued to decline. Hoover did not cause the Depression, however his administration failed to engineer a solid plan for recovery to help the American people and the worsening economy.
Bibliography:
DeGregorio, William A., and Sandra Lee. Stuart. The Complete Book of U.S. Presidents. Fort Lee, NJ: Barricade, 2009. Print.
""Herbert Hoover's Tragic Presidency "" Austin Community College - Start Here. Get There. Web. 28 Apr. 2011. <http://www.austincc.edu/lpatrick/his2341/tragic.html>.
"Smoot-Hawley Tariff." Future Home Page. Web. 28 Apr. 2011. <http://future.state.gov/when/timeline/1921_timeline/smoot_tariff.html>.
"U.S. Senate: Party Division." U.S. Senate. N.p., n.d. Web. 6 April. 2011. <http://www.senate.gov/pagelayout/history/one_item_and_teasers/partydiv.htm>